Press Release Press Release


January 31, 2007

Klaus M. Patig to retire

After a total of 35 years with Commerzbank, including 12 years as a member of the Board of Managing Directors, Klaus M. Patig (63) is retiring. His responsibility for the Public Finance and Group Treasury operating segment and for the Legal Services staff department will be transferred to new Board member Michael Reuther (47). Dr. Eric Strutz (42) will take over as Managing Director Labour Relations.

Klaus M. Patig, born on 5 January 1944 in Prague, joined Commerzbank's Legal department as a qualified lawyer in 1972. After a period in the then Syndication unit, he was appointed Head of Commerzbank (South East Asia) in Singapore in 1982, and Joint Head of the New York office in 1987. Patig gained experience of the German market as Joint Head of the Berlin main branch from 1992 onward. He has been a member of the Bank's Board of Managing Directors since 1995.

Chairman of the Board Klaus-Peter Müller, who has worked with Patig for many years, comments: "I would like to thank Klaus Patig for his tireless dedication to our Bank. He has made an outstanding contribution in his work at home and abroad and, not least, as a Board member. We owe him enormous thanks for this. On a personal level, I wish him all the very best for this next chapter in his life. I am confident that he will continue to maintain close ties with Commerzbank in the future."